06.08.202520:24:13UTC+00Ibovespa Rises Despite 50% Tariff

The Ibovespa index experienced a 1% increase, closing at 134,538 on Wednesday. This came as investors evaluated Brazil's governmental strategy in light of the newly imposed 50% U.S. tariff on Brazilian goods, which took effect at midnight. Adding to this, a new wave of corporate earnings was under scrutiny. On the previous day, President Lula stated his intention not to reach out to U.S. President Trump regarding the tariffs. He emphasized Trump's lack of interest in dialogue but mentioned plans to extend an invitation to Trump for Brazil’s COP30 climate summit later this year. In terms of corporate developments, Raia Drogasil surged 14.1% following its release of stronger-than-anticipated second-quarter results. Additionally, Lojas Renner saw a 5.3% increase due to positive same-store sales figures, Eletrobras rose by 3.6% with better-than-expected outcomes, and Itaú Unibanco reported a 2.7% gain after announcing a 14.3% year-on-year increase in recurring profit.